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Market Arts
Wednesday, 23 February 2005
Orange line alert

Why do we use TA?
TA is used so we have no attachment of feelings towards any stocks. You will lose your concentration if fear and greed creeps in. Let the market show you direction, set your target and execute.
We are now close to a critical point that I drew on the QQQQ chart as an uptrend support with an orange line. As you can see we are very close to it. If we break through the orange line we will most likely experience a psychological change in the market. Fear will set in and slowly it will spread as most stocks will be sold. It will be wise to be in cash and or learn to short.
We do have another possibility that the price bounces of the orange line and go through the upper yellow line. This would create a very complex pattern, possibly going toward the upside.
Time is short; I would say we have around 15 days the most if not sooner, that the market Action will give us direction. Once we resolve the line on either direction I will have more ideas how to play this fun game of money called the stock market.

Posted by wizard2/marketarts at 4:28 AM PST
Updated: Wednesday, 23 February 2005 4:35 AM PST
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Tuesday, 22 February 2005

When you do your technical analysis of stocks you will notice that the picture of landscape will change as time and price action moves forward. Many times a stock will have many shapes of TA that needs to be interpreted. It is very important to do long and short term charting on each stock. As you can see more directions to a stock, the multiple dimensions will give better setups. In this chart of QQQQ, I am only posting one dimension of downtrend channel. As you can see the price action is to the downside. A better clue of what is going to happen is when the upper or lower channel is broken to either side.

Posted by wizard2/marketarts at 12:00 PM PST
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Monday, 21 February 2005
Now Playing: For an up side target of $2

Posted by wizard2/marketarts at 3:46 PM PST
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Saturday, 19 February 2005
Now Playing: For an up side target of $24

Price spiked through the resistance line with high volume and MACD brake out.

Posted by wizard2/marketarts at 12:46 PM PST
Updated: Saturday, 19 February 2005 2:17 PM PST
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